WeRize Lap

Product Overview

WeRize Loan Against Property (LAP) is designed for self-employed individuals, business owners, traders, and property owners who need higher funding for business expansion, working capital, education, medical expenses, debt consolidation, or other financial needs. The loan is secured against residential or commercial property and offers attractive interest rates with flexible repayment options.

Eligibility Criteria

✔️ Applicant must be an Indian citizen.

✔️ Age: 21 to 65 Years.

✔️ Salaried, Self-Employed Professional, Trader or Business Owner.

✔️ Property should be owned by the applicant or co-applicant.

✔️ Minimum Business Vintage: 1 Year+ (for self-employed applicants).

✔️ Stable Income Source.

✔️ Good CIBIL Score (650+ preferred, 750+ ideal).

✔️ Property must meet lender valuation and legal verification requirements.

Features and Benefits

✔️ Loan Amount: Up to ₹1 Crore.

✔️ Competitive Interest Rates based on applicant profile and property valuation.

✔️ Longer Repayment Tenure compared to unsecured loans.

✔️ Loan Available Against Residential & Commercial Properties.

✔️ Quick Approval & Hassle-Free Documentation Process.

✔️ Higher Loan Eligibility due to secured nature of loan.

✔️ Funds can be used for:

Business Expansion
Working Capital
Medical Expenses
Education
Debt Consolidation
Personal Financial Needs

✔️ Doorstep Assistance & Digital Application Support through WeRize Partners.

Fees & Charges

✔️ Loan Amount: Up to ₹1 Crore.

✔️ Interest Rate: Starting from 9% p.a. onwards* (subject to lender and profile eligibility).

✔️ Processing Fee: Up to 3% + GST.

✔️ Loan Tenure: Up to 15 Years.

✔️ Foreclosure Charges: As per lender policy.

✔️ Penal Charges: Applicable on overdue EMIs.

✔️ Other Charges: As applicable by the lending institution.

Documents Required

✔️ PAN Card

✔️ Aadhaar Card

✔️ Address Proof

✔️ Property Documents

✔️ Income Proof (Salary Slip / ITR)

✔️ Bank Statements (Last 6–12 Months)

✔️ Business Proof (For Self-Employed Applicants)

✔️ GST Returns (If Applicable)

✔️ Passport Size Photograph

FAQs

Q1. What is the maximum loan amount available under WeRize LAP?

Ans. Eligible applicants can get a Loan Against Property of up to ₹1 Crore.

Q2. Can I apply using a residential property?

Ans. Yes, both residential and commercial properties can be considered subject to lender approval.

Q3. Who can apply for WeRize LAP?

Ans. Salaried individuals, self-employed professionals, traders, and business owners can apply.

Q4. Is property ownership mandatory?

Ans. Yes, the property offered as collateral should be owned by the applicant or co-applicant.

Q5. What is the repayment tenure?

Ans. Depending on lender policy and eligibility, tenure can extend up to 15 years.

Terms & Conditions

✔️ Loan approval is subject to credit assessment and property verification.

✔️ Final loan amount depends on property value, income, and repayment capacity.

✔️ Interest rates may vary depending on profile and lender policies.

✔️ Property legal verification and technical valuation are mandatory.

✔️ Terms & conditions are subject to change as per lender guidelines.